Legionella Testing Market to Reach USD 455.99 Million by 2027; Increasing Popularity of PCR Tests Will Augment Growth, says Fortune Business Insights…

May 27, 2020 09:39 ET | Source: Fortune Business Insights

Pune, May 27, 2020 (GLOBE NEWSWIRE) -- The global legionella testing market size is anticipated to gain traction from the increasing prevalence of legionnaire infection. In addition to this, the rapidly spreading pandemic of COVID19 that affects the respiratory system is also propelling the demand for legionella testing kits. A recently published report by Fortune Business Insights titled, Legionella Testing Market Size, Share & Industry Analysis, By Type (Culture Media, Urine Antigen Testing (UAT), Polymerase Chain Reaction (PCR), Serology, and Direct Fluorescent Antibody (DFA) test; By End User (Hospitals & Clinics, Diagnostic Centers, and Others) and Regional Forecast, 2020-2027, provides details into the market and its prime growth trajectories. According to this report, the value of this market is poised to rise from USD 226.24 million in 2019 to USD 455.99 million by 2027, exhibiting a CAGR of 9.1% between 2020 and 2027.

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The Report Answers the following Questions?

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

To get the short-term and long-term impact of COVID-19 on this Market.

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Drivers & Restraints-

Increasing Regulations Imposed on Water Reserves by Governments will Augment Growth

Legionella is a disease caused by the bacteria called legionella pneumophilia found in water sources that may or may not be potable. They can grow in various water sources such as bathtubs, showers, ponds, swimming pools, and others. This acts as a major legionella testing market growth driver. Besides this, the launch of various techniques such as urine antigen testing, microbial culture method, and other commercially available tests are adding impetus to the market.

On the contrary, lack of awareness about this disease, coupled with the lack of proper healthcare infrastructure and diagnostic equipment especially in the underdeveloped regions may pose a major hindrance to the overall market.

Nevertheless, government support in terms of strict water system testing regulations and continuous monitoring of water reserves is likely to create lucrative growth opportunities for the market in the foreseeable future.

Segment-

Cost efficiency and Rapid Test Results to Help UAT segment Emerge Dominant

Based on type, the market was dominated by the Urine Antigen Testing or the UAT segment in 2019 with a 42.2% share. This is due to its cost efficiency and the fact thats the results of these tests can be availed on the same day as compared to the traditional testing methods that require 7-8 days for producing test results.

Regional Analysis-

North America to Emerge Dominant with Presence of World-class Medical Infrastructure

North America earned the highest legionella testing market share on account of the presence of well-established healthcare infrastructure and medical facilities, coupled with high awareness about the disease and the strict regulations imposed by the government on water testing. On the other side, the increasing outbreak of legionella in the European nations, along with high pricing and the increasing popularity of the PCR test will help this region to come in close competition with North America.

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Competitive Landscape-

Vendors Engage in Adoption of Latest Testing Technology for Better Revenue Generation

The nature of this market is consolidated on account of the presence of a few players. Key vendors are focusing on expanding their portfolio across geographies to gain a competitive edge in the market. Others are investing in research and development of new advanced testing methods and engaging in mergers and acquisitions, joint ventures, and other collaborative strategies to maintain a strong foothold in the market in the forthcoming years.

Some of the key Industry Developments of the Legionella Testing Market are listed below:

June 2018 Legionella Water testing system was launched by Oxford Biosystems at the WMSoc Conference that gives precise results within 4 hours.

September 2019 Hydrosense and B&V Chemicals entered into a strategic collaboration for the launch of a new-generation self-diagnostic tool for legionella.

Fortune Business Insights lists out the names of major players in this market. This includes:

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Detailed Table of Content:

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Legionella Testing Market to Reach USD 455.99 Million by 2027; Increasing Popularity of PCR Tests Will Augment Growth, says Fortune Business Insights...